How does Voting Work?

Simply put, voting is when members of necDAO express approval or disapproval for a given proposal. Whilst anybody can propose, only Reputation holding members of necDAO are able to determine the success of proposals.

How does voting work?

Quick Facts:

The act of casting a vote creates a transaction that is transparent and recorded on the Ethereum blockchain.

The amount of Reputation you have reflects the strength of your vote as a member

The act of voting doesn’t spend a member's Reputation

Members should only vote on worthy and legitimate proposals

What is the difference between relative and absolute majority?

Regular Proposals (Absolute-majority)

Overview: Absolute-majority requires a majority of every member in the DAO to vote a given way, for or against, on a given proposal.

Example: If a DAO has 100 members, at least 51 will need to vote the same way, for or against, for the voting process to complete.

As you can imagine, this requires a significant amount of collective attention and can result in proposals either languishing or taking a long time to pass or fail. By default, all proposals submitted to the necDAO will begin life with this requirement. There is, however, a way to ‘boost’ proposals.

Boosted Proposals (Relative-majority)

Overview: Relative-majority requires the majority of only those members who voted on a given proposal within a certain time-frame. In other words, a proposal is open for one week and the outcome is determined based on the votes of the members who engaged.

Example: If a DAO has 100 members and a proposal is submitted, subsequently boosted and 10 members vote within a select time-frame (determined by the value of the prediction challenge) then 6 votes of the 10 would need to align for the proposal to pass.

This makes the DAO scalable and allows proposals to complete in a shorter time-frame. It also adds an extra engaging element to necDAO through the use of prediction markets with those who engage in them, winning GEN awards for making accurate predictions for or against a proposal.